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Here’s a shocker:

Leaders of the world’s biggest economies agreed on Friday to curb “persistently large imbalances” in saving and spending but deferred until next year tough decisions on how to identify and fix them.

Still, I suppose merely acknowledging the problem in a big public forum represents a bit of progress. A “single,” as President Obama puts it.

By the way, if you want to reduce the federal deficit, guess what else has to happen? The trade deficit has to come down. This is one bellwether of seriousness on the budget deficit: if you mention the trade deficit, you’re serious. If you don’t, you’re not. So without looking, anyone want to place a bet on whether the Simpson-Bowles deficit commission report mentions the trade deficit? I’d take bets on this with all comers, but I’d be cheating. I already looked.1

1Answer: no it doesn’t. This is yet another stake in the heart of the report’s supposed seriousness.

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DONALD TRUMP & DEMOCRACY

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And we need your support like never before, to fight back against the existential threats American democracy faces. Fundraising for nonprofit media is always a challenge, and we need all hands on deck right now. We have no cushion; we leave it all on the field.

It’s reader support that enables Mother Jones to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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